(BUSINESS WIRE) -- Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK)
(“Takeda”) today announced the completion of its previously-announced
sale of a portfolio of select products to STADA Arzneimittel AG
(“STADA”) for a total value of $660 million USD. The portfolio includes
approximately 20 over-the-counter (OTC) and prescription pharmaceutical
products exclusively in Russia, Georgia, and a number of countries from
within the Commonwealth of Independent States, which form part of
Takeda’s Growth & Emerging Markets Business Unit. This divestment agreement was first announced in November 2019.
The
divested portfolio includes OTC Vitamins and Food Supplements, plus
select products within the Cardiovascular, Diabetes, General Medicine,
and Respiratory therapeutic areas, which are outside of the business
areas Takeda has chosen as core to its global long-term growth. As
previously announced, Takeda and STADA have also entered into
manufacturing and supply agreements under which Takeda will continue to
manufacture and supply the products to STADA. The portfolio’s growth is
driven by sales of products such as Cardiomagnyl, and other strong
regional brands. In addition, approximately 450 employees supporting the
divested assets have transitioned over to STADA.
Takeda
remains focused on executing its strategy of rapid deleveraging, driven
by strong cash flow and divestiture proceeds, while also simplifying
its portfolio. The Company intends to use the proceeds from the sale to
reduce its debt and accelerate deleveraging towards its target of 2x net
debt/adjusted EBITDA within March 2022 – March 2024.
The
completion of this transaction marks continued progress on Takeda’s
goal to divest $10 billion USD in non-core assets and focus on its five
key business areas. Earlier this week, Takeda announced the sale of a
portfolio of select non-core products exclusively in Latin America to
Hypera Pharma for $825 million USD and completed its sale of non-core
assets in a number of Near East, Middle East and Africa countries to
Acino for over $200 million USD. Additionally, Takeda completed the
divestiture of Xiidra® to Novartis for up to $5.3 billion USD in July
2019 and announced the sale of TachoSil® to Ethicon for $400 million USD
in May 2019.
About Takeda Pharmaceutical Company Limited
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) is
a global, values-based, R&D-driven biopharmaceutical leader
headquartered in Japan, committed to bringing Better Health and a
Brighter Future to patients by translating science into
highly-innovative medicines. Takeda focuses its R&D efforts on four
therapeutic areas: Oncology, Rare Diseases, Neuroscience, and
Gastroenterology (GI). We also make targeted R&D investments in
Plasma-Derived Therapies and Vaccines. We are focusing on developing
highly innovative medicines that contribute to making a difference in
people's lives by advancing the frontier of new treatment options and
leveraging our enhanced collaborative R&D engine and capabilities to
create a robust, modality-diverse pipeline. Our employees are committed
to improving quality of life for patients and to working with our
partners in health care in approximately 80 countries.
For more information, visit https://www.takeda.com.
Important Notice
For
the purposes of this notice, “press release” means this document, any
oral presentation, any question and answer session and any written or
oral material discussed or distributed by Takeda Pharmaceutical Company
Limited (“Takeda”) regarding this release. This press
release (including any oral briefing and any question-and-answer in
connection with it) is not intended to, and does not constitute,
represent or form part of any offer, invitation or solicitation of any
offer to purchase, otherwise acquire, subscribe for, exchange, sell or
otherwise dispose of, any securities or the solicitation of any vote or
approval in any jurisdiction. No shares or other securities are being
offered to the public by means of this press release. No offering of
securities shall be made in the United States except pursuant to
registration under the U.S. Securities Act of 1933, as amended, or an
exemption therefrom. This press release is being given (together with
any further information which may be provided to the recipient) on the
condition that it is for use by the recipient for information purposes
only (and not for the evaluation of any investment, acquisition,
disposal or any other transaction). Any failure to comply with these
restrictions may constitute a violation of applicable securities laws.
The
companies in which Takeda directly and indirectly owns investments are
separate entities. In this press release, “Takeda” is sometimes used for
convenience where references are made to Takeda and its subsidiaries in
general. Likewise, the words “we”, “us” and “our” are also used to
refer to subsidiaries in general or to those who work for them. These
expressions are also used where no useful purpose is served by
identifying the particular company or companies.
Forward-Looking Statements
This
press release and any materials distributed in connection with this
press release may contain forward-looking statements, beliefs or
opinions regarding Takeda’s future business, future position and results
of operations, including estimates, forecasts, targets and plans for
Takeda. Without limitation, forward-looking statements often include
words such as “targets”, “plans”, “believes”, “hopes”, “continues”,
“expects”, “aims”, “intends”, “ensures”, “will”, “may”, “should”,
“would”, “could” “anticipates”, “estimates”, “projects” or similar
expressions or the negative thereof. Forward-looking statements in this
document are based on Takeda’s estimates and assumptions only as of the
date hereof. Such forward-looking statements do not represent any
guarantee by Takeda or its management of future performance and involve
known and unknown risks, uncertainties and other factors, including but
not limited to: the economic circumstances surrounding Takeda’s global
business, including general economic conditions in Japan and the United
States; competitive pressures and developments; changes to applicable
laws and regulations; the success of or failure of product development
programs; decisions of regulatory authorities and the timing thereof;
fluctuations in interest and currency exchange rates; claims or concerns
regarding the safety or efficacy of marketed products or product
candidates; the timing and impact of post-merger integration efforts
with acquired companies; and the ability to divest assets that are not
core to Takeda’s operations and the timing of any such divestment(s),
any of which may cause Takeda’s actual results, performance,
achievements or financial position to be materially different from any
future results, performance, achievements or financial position
expressed or implied by such forward-looking statements. For more
information on these and other factors which may affect Takeda’s
results, performance, achievements, or financial position, see “Item 3.
Key Information—D. Risk Factors” in Takeda’s most recent Annual Report
on Form 20-F and Takeda’s other reports filed with the U.S. Securities
and Exchange Commission, available on Takeda’s website at: https://www.takeda.com/investors/reports/sec-filings/ or at www.sec.gov. Future
results, performance, achievements or financial position of Takeda
could differ materially from those expressed in or implied by the
forward-looking statements. Persons receiving this press release should
not rely unduly on any forward-looking statements. Takeda undertakes no
obligation to update any of the forward-looking statements contained in
this press release or any other forward-looking statements it may make,
except as required by law or stock exchange rule. Past performance is
not an indicator of future results and the results of Takeda in this
press release may not be indicative of, and are not an estimate,
forecast or projection of Takeda’s future results.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200304005254/en/
Contacts
Japanese Media:
Kazumi Kobayashi
kazumi.kobayashi@takeda.com
+81 (0) 3-3278-2095
Investor Relations:
Takashi Okubo
takeda.ir.contact@takeda.com
+81-(0)3-3278-2306
Media outside Japan:
Sandy Rodriguez
sandy.rodriguez@takeda.com
Vince Docherty
vince.docherty@takeda.com
